Cuban Palm – Kissimmee FL 34747
What Does Condo Insurance Cover?
Condo unit owner insurance policies typically cover what the condo association’s master policy doesn’t cover. A condo association master policy can be one of two types:
•An “all-in” condo master policy: Also known as a “single-unit” master policy, this type of policy covers the fixtures in your condo such as the interior walls, wiring, and plumbing, but does not cover personal property that you own.
•A “bare walls-in” condo master policy: This policy does not cover anything contained within your walls. It may or may not cover your condo’s plumbing and electrical systems.
The following are typically included in the Master policy:
- Interior Walls
- Ceilings
- Doors
- Windows
- Wiring
- Plumbing
- HVAC
The following are typically excluded in the property and casualty Master policy of insurance maintained by the Condominium Association and are the responsibility of the individual unit owners to insure on their unit owner’s policy:
- Floor coverings (carpet, pad, tile, linoleum)
- Wall coverings (paint, wallpaper)
- Ceiling coverings (paint, “popcorn”, texture coating, wallpaper)
- Electrical fixtures (lighting, ceiling fans, chandeliers, switch/plug plates)
- Appliances (stove, dishwasher, refrigerator, washer, dryer)
- Water heaters
- Water filters
- Built-in cabinets and countertops (kitchen and bath)
- Window treatments (curtains, drapes, blinds, hardware)
Along with the above items that you are required to insure inside your unit per Florida Statute, your condo insurance policy will cover you for loss or damage to your personal possessions, and provide coverage for personal liability and medical payments. Additionally, it will cover loss of use in the event that your condominium becomes badly damaged by a fire or storm and you need to live elsewhere during repairs. Insurance for a particular condo is known as an HO-6 policy. HO-6 policies typically provide you with coverage for a range of causes of loss which include fire, lightning, windstorm and theft, to name a few. You may also have to purchase additional coverage for specific items such as artwork, jewelry and other items of value (antiques or collectibles).
We have 18 carriers who will write HO6 policies and also have market for rentals, coastal, and primary.
3 Important Things Excluded on Condo Insurance:
1) Insects, vermin or vice (termites, rats, squirrels, bats etc.)
2) Faulty materials or workmanship (construction defect)
3) Wear, tear and deterioration over time. The property damaged just gets old and falls apart as a result of either failure to maintain or has reached end of useful life expectancy.
***Please review your Master Policy for your Condo Association to verify coverage’s provided by them.
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